Unknowingly, we have all been doing this since childhood. Just as we bought pencils, arranged our pencil case before school, to reduce the risk during the exam we put more than one pencil in a pencil case, prepare notes before exam preparation, arrive at school on time and finish the exam on time, etc., we must all have planned this in advance. There are many examples we have all done.
So can we call the project professional ourselves? The answer is No. Even though we are inadvertently doing many things in our private lives, but in order to become professionals in the project we all need to understand the knowledge of project management in an organized way and understand its importance and requirement for project management tools and techniques.
The project management is technically structured and in the future many new tools and techniques will be added to help us design the project in the best way.
A firm management required to conduct project works correctly from start to finish at the right time and take right ethical decision. The goal of the project management is to initiate a project at the first level through the correct application, methodology and integration of all processes. Plan in all areas of knowledge of the project with a constant focus on their monitoring and control and ensure that the work is carried out according to approved plans. Measure the project performance in different areas of work and proceed with project completion within budget and quality.
- Meet business objectives
- Increase chances of success
- Resolve problems and issues at the right time
- Optimize the use of organisation resources
- Manage constraints of scope, schedule, cost, quality, resources, etc.
- Balance the influences of constraints on the project
- Manage change in a better manner
In case of bad management, the project cost overruns, the quality of the product or the overall project will be affected, rework will be carried out, the completion dates will be missed, the parties involved will be dissatisfied and the loss of reputation on the market and in business life will increase.
- Missed deadline
- Over budget
- Poor quality
- Uncontrolled expansion of project
- Unsatisfied stakeholders
- Failure in achieving the business objectives for which the project was undertaken.
Project management is a complementary discipline that helps to manage a project very effectively, efficiently and simply. It applies to every single professional who wants to implement the measured result at work and achieve business value.
A project can be managed in three different scenarios: as a standalone project management (outside a portfolio or program), within a program management, or within a portfolio management.
We will read in detailed about these scenarios and relationships in next post.